Single Tax Payers;
- Up to $10,910 at 4.4%
- $10,901 to $21,820 at 5.84%
- $21,821 to $240,190 at 6.27%
- $240,191 and above at 7.65%
Married Filing Jointly Payers;
- Up to $14,540 at 4.4%
- $14,541 to $29,090 at 5.84%
- $29,091 to $320,250 at 6.27%
- $320,251 and above at 7.65%
Tax returns are due by April 15 or the next day of business if that date falls on a weekend or holiday.
An Earned Income Tax Credit is offered to Wisconsin residents. If you have qualifying children and are a working family this tax credit may apply to you. The amount of the benefited is determined by the household income and number of dependent children.
Wisconsin typically taxes pensions and annuities at the same amount that is taxable by federal taxes. Railroad retirement and Social Security benefits are not taxed by the state.
If you are retired and have an income of less than $10,000, or $19,000 for Married Couples filing jointly you may be eligible for the Working Families credit which eliminates the Wisconsin state income tax. This credit is only available to residents of Wisconsin. Current employment or multiple people living in the same house is not needed to claim this credit.
If you are retired and 65 or older you may be able to exclude $5,000 of qualified retirement income, including distributions from IRA’s from your taxable income. This is dependent on some income restrictions, your federal adjusted gross income must be below $15,000 if you are a single filer, or $30,000 if you are married even if you decide to file separately. If you are 65 or older you are also able to claim an exemption of $250.
Wisconsin Income taxes and residency
You are a resident of the state is you maintain a domicile in Wisconsin, even if you are not physically present with in the state or live in another state.
Defining a Domicile – A domicile is considered a place where a person intends to return to whenever they are away. It can also be referred to as a legal residence. You may live in one state and still maintain a domicile in another. You may only have one domicile at a time.
What is my Domicile – Your domicile can be dependent on many factors including such things as where you are registered to vote, where your vehicles are registered, where you live or where you own or rent property.